#XAUUSD approaching pivot, potential for a pullback
Price is approaching our pivot level at 1,786.65 which is in line with -61.8% Fibonacci retracement level , 127.2% Fibonacci extension level and horizontal overlap resistance. Price could potentially pull-back towards support at 1,761.94, in line with 23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA
Alternatively, price may bounces to our resistance at 1,799.08, which coincides with -27.2% Fibonacci retracement level , 78.6% Fibonacci extension level and 200MA
Pivot:
1,786.65
Why we like it:
-61.8% Fibonacci retracement level , 127.2% Fibonacci extension level and horizontal overlap resistance
1st Support:
1,761.94
23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA
1st Resistance:
1,799.08
-27.2% Fibonacci retracement level , 78.6% Fibonacci extension level and 200MA
Trading FX & CFDs carries high risk
Alternatively, price may bounces to our resistance at 1,799.08, which coincides with -27.2% Fibonacci retracement level , 78.6% Fibonacci extension level and 200MA
Pivot:
1,786.65
Why we like it:
-61.8% Fibonacci retracement level , 127.2% Fibonacci extension level and horizontal overlap resistance
1st Support:
1,761.94
23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA
1st Resistance:
1,799.08
-27.2% Fibonacci retracement level , 78.6% Fibonacci extension level and 200MA
Trading FX & CFDs carries high risk
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